Deal signed to build £340m ‘Cheese Grater’

Aaron Morby 7 years ago
Share

Developer British Land has signed a deal with one of Canada’s largest pension funds to start building the 225m high Cheese Grater tower in London.

Now the bidding process to select a contractor will start in January 2011 with the aim of completing the shell and core by summer 2014.

Under the terms of the deal with Oxford Properties, the real estate arm Ontario Municipal Employees Retirement System pension fund will form a joint venture with British Land to develop the 47-storey Leadenhall Street tower project.

Lord Rogers’ designed the wedge-shaped building, which was due to go-ahead three years ago with Bovis Lend Lease as builder but stalled when the property bubble burst.

The deal ignites tall office building activity in the centre of London, dramatically altering the Capital’s skyline over the next few years.

Helter-Skelter, Cheese Grater and Walkie Talkie  towers will transform the City of London skyline

Last week Land Securities and Canary Wharf Group finalised a £500m deal to proceed immediately with the development of the ‘Walkie Talkie’ office tower at 20 Fenchurch Street.

Several other big office schemes are also on the stocks to move into construction.

Construction work is also under way on the Pinnacle Tower, dubbed the Helter-Skelter, as the developer gambles on tying up a full funding package with a consortium of international banks.

Peter Rees, the Corporation’s head of planning, said the London office sector was on the rebound with help from overseas finance.

“This is investors bringing money into London from outside the UK, money that would have been spent in New York or the Middle East.”

Latest project news

B&K set for £50m Manchester skyscraper job

Developer Unite in talks with Bowmer & Kirkland for 600-bed student block
1 month ago

McAleer & Rushe to build Brum student tower

Plans submitted for 1,000 room Lancaster Circus student halls
1 month ago

Wates to start £24m York extra care village

Rowntree Trust New Lodge scheme to be built in New Earswick garden village.
2 months ago

BAM bags £14m Sheffield health research centre

Work to start in February on Advanced Wellbeing Research Centre
2 months ago

B&K gets green light for £14m Heriot Watt job

Work to start in December on teaching and learning facility at Riccarton campus
2 months ago

Kier set for £42m Bournemouth Uni landmark job

Firm to replace Morgan Sindall on Faculty of Health & Social Sciences at its Lansdowne Campus project.
2 months ago

Willmott Dixon wins Nottingham retirement towers

Contractor to build new block between twin modernised 15-storey towers
2 months ago

Wates to start £20m Dunstable leisure scheme

Demolition of existing centre nears completion
2 months ago

Laing O’Rourke scoops £700m Brent Cross revamp

Work expected to start next year when infrastructure contractor selected
2 months ago

Midas set for £45m Southampton student halls

Developer is awaiting planning for 12-storey student room complex
2 months ago

Clugston to start £13m Leeds College of Building job

Phase 2 of Hunslet Campus in Leeds gets underway
2 months ago

McAlpine to start HMRC office at Cardiff central square

Work to start on fourth major office build at £400m city centre regen scheme
2 months ago

Bouygues set for £300m Cavendish physics lab

Cambridge University awards first contract under new framework
2 months ago

M+W wins £25m Newton’s apple tree lab job

Work to start in December on National Physical Laboratory measuring lab
2 months ago

Interserve mobilises for £20m Barnsley sewage works

Contractor to start first job with Yorkshire Water under new relationship
2 months ago

Sisk wins Blackpool tramway extension

Contractor will start work early next year on 550m extension
2 months ago

Willmott Dixon lands £60m university treble

Builder secures schemes for Warwick, Coventry and Birmingham universities
2 months ago

Wates bags £33m Warwick Arts Centre upgrade

Work to start on existing building upgrade this year and new-build in 2018
2 months ago

Interserve wins £70m-plus Leeds build to rent job

Developer Dandara signs main contract for Holbeck Urban Village
2 months ago

Mace tipped for Mitsubishi London skyscraper

150 Leadehall tower will take five years to complete
2 months ago

Forrest wins £100m Liverpool student rooms job

Builder bags second major job with developer Elliott Group
2 months ago

Graham lands £13m Stockport link road

Latest phase of £73m transport improvement plan for town centre
2 months ago

Interserve lands £85m Durham student scheme

Work on DBFO deal to start next year as university continues investment programme
3 months ago

Kier replaces Ringway on £210m highways deal

Contract starts next April and could last up to ten years
3 months ago

Galliford Try bags £52m Coventry student halls job

Work set to start on 922-bed Paradise Street project
3 months ago

Eric Wright gets green light for Preston Ikea site

Enabling infrastructure to start on major out-of-town retail centre
3 months ago

Kier starts £28m Liverpool International College digs

Construction starts on £1bn Knowledge Quarter at Liverpool’s Paddington Village
3 months ago

Bouygues wins £55m Salford Media City flats

Deal to kick-start construction of Salford build to rent scheme
3 months ago

Galliford Try wins £65m Birmingham 3 Arena Central office

Government tenancy deal paves way for contractor to start second Arena Central project
3 months ago

VolkerFitzpatrick wins Felixstowe docks upgrade

15-month programme to reclaim 3ha of seabed at Suffolk port
3 months ago

Contractor services